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Producer co-operatives in nineteenth-century British economic thought

Persky, Joseph (2017) Producer co-operatives in nineteenth-century British economic thought. The European Journal of the History of Economic Thought, 24 (2). ISSN 1469-5936

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Abstract

"Drawing on the popular radicalism of the day and his own development of the theory of the stationary state, John Stuart Mill had argued on normative and positive grounds that capitalist firms were transitional institutions and should/would evolve into producer co-operatives. In Britain, Mill's work set off a dialogue among mainstream economists. Contributors included Thornton, Fawcett, and Cairnes from Mill's “school,” as well as Jevons and Marshall who while sympathetic endorsed the less radical reform of profit sharing. Ironically, much of the socialist left, including Beatrice Potter (Webb), praised Mill's concerns, but rejected producer co-operatives in favour of nationalisation. By the early twentieth century, Mill's message resonated only with the guild socialists who kept the radical argument for producer co-operatives alive. The subtext of the paper is that modern liberals have too conveniently lost connection with this important history and its radical/liberal message of capitalism as a transitional mode." - publisher's abstract.

Item Type: Article
Additional Information: Published online.
Subjects: D History General and Old World > DA Great Britain
H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
H Social Sciences > HX Socialism. Communism. Anarchism
Date Deposited: 28 Apr 2017 16:11
Last Modified: 28 Apr 2017 16:11
URI: http://webbs.library.lse.ac.uk/id/eprint/858

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